GBPNZD is approaching its support at 1.9593 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.9881 (38.2% Fibonacci retracement, horizontal swing high resistance). Stochastic (89, 5, 3) is approaching its support at 3.7% and there may be bullish divergence with price, where a corresponding bounce could occur.
Good I get the same analyse but I didnt get where you start your retracement ---I got for retracement L-1.91490 H- 2.04700
2. what about the estension ??? - Thank you would like to understand
ICmarkets
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@veresachy3, hi! We've got the same high ending point but the low we used was at 1.9072.
veresachy3
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@ICmarkets, I see ur point :-) - you have a valid point i checked on past and its a strong support. what point you used for your fib extension
veresachy3
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@veresachy3, im waiting for te bounce back ::-) I have to admin its a nice one :)
ICmarkets
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@veresachy3, retracements can be found by looking at the 2 red arrows!
veresachy3
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@ICmarkets, Hi , first for the sharing but There is only one arrow-- the other one its back from april which showing the the previous downtrend april to june-- :)
maybe i need glasses -
ICmarkets
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@veresachy3, yes, so those 2 arrows makes up our retracement. Our 3 points for the 100% extension are, H1- 1.97585, L- 1.89007 and H2- 2.04626